Piper Sandler Companies (NYSE:PIPR) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Bank of America assumed coverage on Piper Sandler Companies in a research report on Monday, January 26th. They issued an “underperform” rating and a $385.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Friday, January 23rd. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $368.00 to $386.00 in a research note on Monday, November 10th. Finally, Wolfe Research restated an “outperform” rating and set a $398.00 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $389.67.

Piper Sandler Companies Stock Down 0.0%

Shares of PIPR opened at $346.32 on Friday. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.11 and a beta of 1.53. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $380.26. The stock has a 50 day moving average price of $349.70 and a 200 day moving average price of $338.20.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 31st. The company reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The company had revenue of $455.31 million for the quarter, compared to analysts’ expectations of $408.40 million. During the same quarter last year, the company earned $2.57 earnings per share. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis.

Insider Activity

In other news, President Debbra L. Schoneman sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total value of $825,825.00. Following the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $324.69, for a total value of $443,851.23. Following the sale, the chief financial officer directly owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,267 shares of company stock valued at $3,763,746. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Several hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co acquired a new position in shares of Piper Sandler Companies during the second quarter worth about $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Piper Sandler Companies in the 2nd quarter valued at approximately $31,000. Whittier Trust Co. purchased a new stake in Piper Sandler Companies in the 3rd quarter valued at approximately $31,000. Danske Bank A S acquired a new position in Piper Sandler Companies during the 3rd quarter worth approximately $35,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Piper Sandler Companies during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.